Rexton Oil is an all-equity firm with 100 million shares outstanding. Rexton has $150 million in cash and expects future free cash flows of $65 million per year. Management plans to use the cash to expand the firm’s operations, which will in turn increase future annual free cash flows by 12%. If the cost of capital of Rexton’s investments is 10%, how would a decision to use the cash for a share repurchase rather than the expansion change the share price?